Modifications to Article X Sample Clauses

Modifications to Article X. Borrowers, Administrative Agent and each Lender acknowledge and agree that, the provisions of this Article X solely govern the relationship among the Lenders and Administrative Agent and do not alter or otherwise modify the provisions of this Agreement applicable to Borrowers or otherwise apply to Borrowers. The provisions of this Article X may be modified without Borrowers’ consent, but with notice thereafter to Borrowers, so long as such modifications do not alter any of Borrowers’ rights or obligations under this Agreement or any of the other Loan Documents or otherwise alter the economic terms of the Loan or the Loan Documents in any manner. In the event that the Administrative Agent is required to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any obligation for the benefit of another, which in the Administrative Agent’s sole discretion may cause the Administrative Agent to be considered an “owner or operator” under any Environmental Laws or otherwise cause the Administrative Agent to incur, or be exposed to, any Environmental Liability or any liability under any Applicable Law, the Administrative Agent reserves the right, instead of taking such action, either to resign as Administrative Agent or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Administrative Agent will not be liable to any Person for any Environmental Liability or any environmental claims or contribution actions under any Environmental Law by reason of the Administrative Agent’s actions and conduct as authorized, empowered and directed hereunder.